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Tax Provision Draws More Retail Investors To NPS


Posted on September 30 2020

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Over the past years, the move to provide the tax benefits on 40% of the maturity value of the investments in the National Pension System (NPS) has substantial with the distribute segment of the NPS which has grown by 100% .

 

Acknowledging this, the PFRDA Chairman Hemant Contractor said that the new tax benefits provision has drawn a lot of distribute investors to the NPS. The total AUM of the NPS stands at Rs 1.38 lakh crore; of which Rs 3,000 crore are from distribute assets.

 

Numbers of huge subscribers including those who had subscribed for the NPS/Swavalamban is more than the number of the government employees who have subscribed for the NPS.

 

Government subscribers compose less than 40% in the terms of numbers in the NPS. Though in the terms of the value, they subsidize around 87% of the total AUM of the NPS which currently stands at Rs 1.38 lakh crore.

 

Tax Assist is a professional income tax consultancy in India for both corporate houses and individual tax payers; the latter comprising Salaried Individuals, Seafarers, Professionals and Non Resident Indians.

 

With the help of Tax Assist and its team of income tax professionals, taxpayers can minimize their Income Tax liability, maximize their net income and create opportunities to save for current and future needs while maintaining proper accounting standards and income tax returns which are compliant with the Law.


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